To enable successful implementation at the earliest of the proposed fast track exploration strategy, the government should allow the existing primary exploration licence (PEL) holders to carry out coal-bed methane (CBM) exploration work in their oil and gas PSC blocks, said V K Dharia, chief executive officer (exploration and production) of Essar Oil.
While addressing Petrominex, the three-day long international exhibition and seminar on business opportunity in oil and gas in Gujarat, Dharia said that the CBM exploration strategy should be implemented in an overlapping faced manner to reach a decision on communicability as early as possible.
According to Dharia, the estimated CBM resource in Gujarat is about 615 billion cubic meters (bcm) with recoverable reserve of about 300 bcm and gas production potential of about mcmd for 25 years.